The United States Court of Appeals for the First Circuit gave us an interesting glimpse of the future last week when it ruled on an obscure case involving government pension obligations.
The United States Court of Appeals for the First Circuit gave us an interesting glimpse of the future last week when it ruled on an obscure case involving government pension obligations.
But, facing critical budget shortfalls over the last several years that the Rhode Island government called “fiscal peril,” the state legislature voted to unilaterally reduce public employees’ pension benefits.
Even more, these cuts were retroactive, i.e. they didn’t just apply to new employees.
The changes were applied across the board; workers who had spent their entire careers being promised certain retirement benefits ended up having their pensions cut as well.
Even the court acknowledged that these changes “substantially reduced the value of public employee pensions provided by the Rhode Island system.”
So, naturally, a number of municipal employee unions sued.
And the case of Cranston’s police and fire fighter unions made it all the way to federal court.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
Please post this announcement for a few days if possible to get the word out. Thanks again Joe!! Thank You for your Patriotic Support!
City of Salisbury MD employees take notice!! This will be you as well as long as Jake day is allowed to continue with free reign
Simple mathematics (not common core) tells us the present pension systems are bankrupt.
Very easy to understand.
The government(s) lied to the people in order to recruit employees away from the economy.
They made promises and never funded the pensions.
This is what u fools get for trusting the government. They can screw u anytime for any reason. Sucks don't it?
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